We work out your 'finalised' rent (the rent you'd pay on day 1 of living in the home) once you make an offer on a property.

Working out your finalised rent

Our property valuation team work out your finalised rent by comparing similar homes in the same area. From this, we decide what a fair market rent would be for the property you're interested in.

The cost of rent is constantly moving, especially in the current market, so we try to take this into account when we set the rent for your home.

We also look at your affordability, and will also factor in things like the current cost of living concerns because we (and you) need to know that while you can afford the rent today we want you to be able to afford it in the future too.

Ultimately, the level of rent has to work for both you and our funding partners.

How rent works with Wayhome

Remember, you only pay rent on the amount of the home you haven't bought yet.

So, if you buy 5% of a home and the rent is £1,000 per month, you only pay 95% of the rent. In this example, that’s £950 per month.

We make sure that your rent payments on day 1 are no higher than 37% of your joint household income because we don’t want you to overburden yourself with high rent.